subject: Creating Own Sample Pay Stubs [print this page] Small companies and business owners with employees to pay regularly and without a laid down procedure on how to effect necessary deductions from their employees' gross pay find it very difficult to do so. In effect, employee complaints abound on the deductions effected on their gross pay which may be incorrect.
Such small companies and business owners can do with creating their own sample pay stubs to enable them issue their employees with stubs that have correct particulars corresponding with correct earnings and deductions.
There are several sample available online that small companies and businesses can effectively use to make their own pay stubs. These contain all the necessary particulars that are applicable for accounting purposes. Since the samples are widely used, they may contain some particulars that may not be relevant to a company's or business's accounting needs. Such irrelevant particulars can simply be removed, remaining with those that are relevant only.
Typically, sample pay stubs will most certainly contain the following particulars:
Date - The date the pay stub is created.
Name - The name of the employee.
Period - The period the pay stub covers. Different companies and other employers have different pay periods, which can be weekly, fortnightly or monthly.
Hours - The total normal working hours an employee has worked in a given period, any overtime working hours put in by the employee and holiday working hours. In addition, the hours worked while on leave (if called upon) are also included.
Gross earnings - The total employee earnings in relation to the total number of hours put in, considering any holiday or leave hours worked, which may have higher payment rates.
Deductions - All the relevant necessary deductions. This includes statutory taxes, insurance premium(s), contributions to various organizations, savings and other applicable deductions.
Net earnings - The total earnings after all the total deductions have been subtracted from the gross earnings.
